$Invesco QQQ(QQQ)$ The US market has been quite ‘impressive’ lately. After earnings season, the adjusted target price of $683 has also left a strong impression on some investors. The price recently came within just about a dollar of that target. That said, those who sold earlier around $665 don’t seem to have regretted it. So, we’re now adjusting our year-end target range to $787-$830 from the previous $725-$743.
$Invesco QQQ(QQQ)$ All four Mag7 companies reported earnings above expectations. Afterhours saw 'sell on news' action, but QQQ is set to open at $683. Growth is strong with both top and bottom lines beating all expectations. Good luck, America.
$Invesco QQQ(QQQ)$ It won’t matter even if inflation is double-digit and the dollar is the weakest currency in the world. In fact, it’s all the better since QQQ is priced in US dollars.
$Invesco QQQ(QQQ)$ So funny... when the market had that little correction due to tariff fears, everyone was calling Trump a jerk and saying he destroyed the markets. The bears were going nuts. Now that we're back at record highs, where did they all go? I said it was a buying opportunity. Of course, I got pushback from some saying there's no way it's going to 450 or whatever. The QQQ has been way overvalued for more than a decade. And it's extremely likely that will continue, probably even more so.
$Invesco QQQ(QQQ)$ War resumption makes it go up, war ending makes it go up. Inflation makes it go up, end of inflation makes it go up. Good earnings make it go up, bad earnings make it go up. Honestly, there's a pattern here. It's going up no matter what.
$Invesco QQQ(QQQ)$ Trump and this stock market can get away with pretty much anything. That's the reality we're living in, unrealistic as it may seem. Negative news barely makes a dent, but any positive news, no matter how small, pushes it to new all-time highs. Go figure!
$Invesco QQQ(QQQ)$ I don't think we'll see SPY under 600 again until the split, which should happen during Trump's term. SPY shares will most likely need to be split sooner.
$Invesco QQQ(QQQ)$ It still seems grossly underpriced to me. Based on a conservatively drawn trend line, it should be at $669 today, not $637. So I expect the check-mark shaped recovery from the Iran war scare share shake-out to continue for a few more weeks at an accelerated pace. My guess is it reaches $750 by July 4th.